UK banks report over UK£1.2 billion payment fraud losses in 2022

British banking trade organisation UK Finance reports that the value of losses to payment fraud exceeded UK£1.2 billion (US$1.5 billion) in 2022, down marginally from UK£1.3 billion (US$1.6 billion) in 2021.

By Sara Lewis

British banking trade organisation UK Finance reports that the value of losses to payment fraud exceeded UK£1.2 billion (US$1.5 billion) in 2022, down marginally from UK£1.3 billion (US$1.6 billion) in 2021.